BlackRock Close to Filing for Bitcoin ETF Application: Source

BlackRock will be using Coinbase (COIN) Custody for the ETF and the crypto exchange’s spot market data for pricing, the source said.

AccessTimeIconJun 15, 2023 at 1:01 p.m. UTC
Updated Jun 15, 2023 at 7:27 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

BlackRock, the world's biggest asset manager, is close to filing an application for a Bitcoin ETF (exchange traded fund), according to a person familiar with the matter.

BlackRock will be using Coinbase (COIN) Custody for the ETF and the crypto exchange’s spot market data for pricing, the person said. Coinbase declined to comment.

BlackRock began working with Coinbase to make crypto directly available to institutional investors midway through last year.

It wasn't clear if the ETF will be spot or futures. BlackRock did not immediately respond to requests for comment.

To date, the Securities and Exchange Commission (SEC), which oversees ETFs in the U.S., has rejected every application for a spot bitcoin ETF, though it has approved several bitcoin futures ETFs for trading.

UPDATE (June 15, 13:09 UTC): Updates to say Coinbase decline to comment.

Edited by Aoyon Ashraf and Nikhilesh De.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in Bullish Group as part of their compensation.

Ian Allison

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.